Sany Poised for Accelerating 2017 Earnings Growth on Industry Turnaround; FVE Raised to CNY 5
No-moat Sany reported a mixed 2016 result with net income of CNY 203 million, falling short of our full-year estimate by about 45% on weak margin, while the flat top line of CNY 23.3 billion exceeded our estimate on robust excavator sales. Still, we believe the worst is behind us, and the industry turnaround should drive accelerating net earnings growth over the next two to three years. In the first quarter of 2017, Sany’s net income and revenue rose 727% year on year and 79% year on year, respe...SANY HEAVY INDUSTRY CO.,LTD is a China-based company principally engaged in the research and development, manufacture, distribution and provision of services of engineering machinery. The Company's major products are categorized into five types, which are concrete machinery, excavating machinery, hoisting machinery, pile driving machinery and road construction machinery, including truck-mounted concrete pumps, trailer concrete pumps, excavators, truck cranes, rotary drilling rigs and sets of road equipment, among others. The Company distributes its products in both domestic and to overseas markets.
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